IREN Limited ($IREN) drew sharp investor attention on Friday as its shares whipsawed amid intensifying scrutiny of the company’s pivot from Bitcoin mining to AI-focused cloud infrastructure—a shift that could redefine its long-term growth profile but also raises fresh questions about capital needs and dilution. The Sydney-headquartered firm traded with notable volatility during the April 24 session in the U.S. After moving between gains and losses intraday, IREN finished regular trading up 7.50% at $52.02, then added another 1.67% in after-hours trading to $52.89.
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